One of the most important things about maintaining a company is maintaining a healthy assessment of your competition. It’s a fairly basic aspect of good business sense, however it can be a challenge to find the very best information possible in order to accurately make a judgment. Continue reading
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Why Company Credit Reports are Important
Company credit reports can seem like a complicated business, but they’re well worth thinking about.
Both the businesses you choose to work with and your own company can be affected by credit reports, so having a look at them is a good idea. Here are three reasons why you should be paying attention to company credit reports.
1. You can use them to check out credibility. You will be able to buy and view the credit reports of any companies you are considering working with, for example any potential suppliers, and you can also view credit reports of any possible customers. It’s a really good way of making sure these companies are legitimate and credible – if you see a bad credit report you’ll know not to associate your company with them.
2. Research your competition. Use a company credit report to have a look at how businesses similar to your own are doing, and then you can compare yourself as a result. As the service is completely anonymous you can view all of this information without worrying about being caught out.
3. To see how you are seen by others. It’s great to be able to look at other company’s credit reports, but buying and having access to your own is also a good idea. Looking at your credit report in the same way it will appear to any peers or clients is a good tool to help you understand how appealing your company is to an outside party.
So there you have it: proof that Company Credit Reports are definitely worth having a look at!
Search for your company name now to see what your credit report looks like!
5 top tips on how to improve your company’s credit rating
Credit ratings are a representation of how financially stable your company is, what’s great though is that you have the power to control your company’s creditworthiness. Once you have understood what factors affect your credit rating, you can then work on improving it. To get started, follow these top 5 tips:
Be on time
Ensure that you pay all your bills to the agreed terms with suppliers, credit card providers, banks etc. If you are a limited company, it is very important that you file your accounts on time with Companies House. Continue reading
What factors affect your company’s credit ratings?
There is no universal credit rating system, but rather, a system specific to each individual credit rating agency. The rating is based on a company’s overall credit history and is calculated using a complex algorithm, which takes into account a huge number of variables. Continue reading
Why your business should be getting company credit reports
For some people in business, getting credit reports is like brushing their teeth. They do it because they know that if they don’t, things could go rotten and get painful. Everyone knows why they need to brush their teeth but not everyone knows why they need credit reports. Here are some reasons:
- To check if a client is credit worthy. It’s exciting when you get a new customer but not quite so exciting when you find out they can’t afford to pay you.
- To see if a supplier is going to go bust on you. There are few things worse than paying your hard-earned cash over to a supplier only for them to disappear.
- To monitor your competitors: check for fraud against your company or just to see who you are really doing business with.
Company Searches Made Simple offer credit reports from as little as £1.95 and it’s all done online in no time at all. In fact, it’s as easy as brushing your teeth.
Company Searches Made Simple – Online company credit reports. Speedy, reliable and competitively priced!
All Company Credit Checks £1!
In the light of the massive success of our previous £1 offer, we at Company Searches Made Simple have decided to do it again!
That’s right, for one day only, we are offering you the chance to run a company credit check for just £1.
Our £1 offer includes any single company credit report, director report or company document. It’s a time limited offer only for Wednesday 17th February ending at midnight…
Take advantage of the chance to check who you are doing business with and how you customers and competitors see you and your company.
Spread the news – every single report £1 for just 1 day!
The Importance of Company Credit Checks
The phrase ‘cash flow is king’, is no less true because of its overuse. Indeed, despite the fact that the government has announced that the UK is out of the recession, it is still vital that all small businesses maintain and manage their cash flow effectively.
From minimizing costs and maintaining healthy product margins, to reducing bad debt and keeping a close eye on your company’s finances there are many ways of maintaining a positive cash flow.
However, just any small business owner should observe the phrase ‘cash flow is king’, they should also take sometime to consider the thought that ‘failing to plan is planning to fail.’ In short, before your business incurs bad debt and you have to dedicate valuable time and resource to getting back the money you are owed, why not run a company credit check on the company you are planning to work with?
What have you got to lose?
The Importance of a Company Credit Report
There are a number of factors that contribute to a person’s decision to buy something, regardless of whether it is a product or a particular service. However, a company’s credit, for many people, is way down on the list.
Historically, consumers considered, price, quality and brand way before they thought about whether a company is safe to do business with. However, research has found, that the recession has changed the consumer mind set to such an extent, that many consumers are now looking to access a company credit report, way before they commit to buying.
Consumer watchdog James Matthews comments; “The recession has undoubtedly seen the return of consumer power. The well documented fall of many high street juggernauts has shown the consumer that no brand, however well established, is immune to economic difficulty. Therefore, many customers are more cautious and this can be seen in the rise of the number of people looking to access a company credit report, before committing to larger purchases.”
Company Credit Reports £1 for 1 day offer was a huge success – a campaign we’ll be repeating so watch this space…
On Wednesday 27th January the team at Company Searches Made Simple decided to go all out and create a show stopping offer – any single report just £1!
At Company Searches Made Simple we’re all very aware of how important it is, particularly in our cautious climate, that businesses really do know who they are doing business with. A simple and effective way to check out your competitors, potential business partners, suppliers and new clients, is to run a company credit check on them.
The company credit check reports provide you with an overview of what’s happening from a financial perspective, covering company credit score, details of directors (and other companies they are involved with), ccj information, mortgages, group structure, up to date accounts and accounts history. Comprehensive information to provide you with a good understanding of how ‘sound’ the business is.
The £1 for 1 day offer ran from first thing Wednesday morning until midnight – and in that 24 hour period we sold a huge amount of company credit reports, company documents, director reports and company monitors.
Traffic to the site doubled – and whilst the transactions were only for £1 – the biggest impact has been what’s happened since we ran the offer.
What appears to have happened is that companies have seen the value in the reports – and have come back to buy more.
Our research tells us that even without running any offers, our company credit reports are the cheapest on the market, and yet whilst they are low cost, we don’t skimp on quality – the company credit reports are very comprehensive.
We’ve sold more company credit report packages since our first £1 offer too – and with packages starting at just £17, and you can purchase ‘unlimited reports’ for just £200, then it’s no surprise, that having sampled the reports (for just £1) – companies are coming back for more.
For those that purchased a report during our offer – we now welcome you to our ‘Priority Notification of Offers’ club. We’ll be notifying you 48 hours before anyone else of our next £1 – so be prepared to hear from us very soon…
4 ways you can use a company credit report effectively
So here’s our 4 ways you can use a company credit report effectively – to assist with your decision making:
- If you are looking for a new supplier – be it a builder for your kitchen extension, or a new hardware support service – how do you know the people you are talking to are telling you the truth. We know of one case where a woman lost £50,000 (yes really) to a rogue builder. They took the money as deposit to buy materials – and she never saw them again! Had she done a company credit report – she’d have seen the CCJs, the negative accounts etc. It may have made her think twice before parting with her hard earned cash!
- You’ve put out a tender and you’ve received a number of replies. That’s good news. The 200 responses all look like strong candidates for the tender – so how do you make a decision on whom to shortlist. Organisations in this position are using company credit reports to assist them in separating the wheat from the chafe. You can set some criteria – and all those that don’t come up to scratch in their company credit report – be it credit rating or whichever criteria you set – you can very simply and quickly begin to drill down to your shortlist. Simple!
- It’s a joint venture situation – you’ve met, it’s all looking great – there’s terrific synergy between the two solutions – however, there’s a little niggle in the back of your mind and you’re not quite sure why! To safeguard your brand reputation and customer base, you want to be sure that the people you partner with have the same ethics and good business practice as yourselves. Of course, you can check out their customer testimonials and get a few references too – but a sure way to make sure everything ‘stands up’ as they say it does – is to use a company credit report. You’ll be able to check out the Directors as well – and view whether they have any other business interests that you should be aware of prior to signing on the dotted line. Forewarned is forearmed – and using a company credit report to check out the financial and current history of business – it’s a good way to be prepared for what’s ahead.
- You’re out for expansion – and looking at winning new business. You’ve landed a great opportunity to pitch for a sizeable piece of business – so what next? Well of course, you do the usual research, their website, their competitors – and you get a feel for their landscape. But what about them and their set up – are they as successful as they would have you believe? A perfect resource for getting prepared in this situation is again to run a company credit report – the information provides you with financial accounts for up to 5 years – so you can see what’s been happening in their business. You’ll also find information about their directors – and group structure. And there might be some unexpected information in there too – who knows. But best that you do…
Accessing company information has never been more affordable or simpler – Company Searches Made Simple offers packages which start at just £17! Single reports for one off research from just £1.95 – and if for those that really get into using their company credit reports as part of their business – then there’s an Unlimited Package for just £200 per year.
With the cheapest company credit reports on the market – for all the reasons mentioned above, it really is a no brainer to be checking out businesses, particularly when you can be doing so for so little expense.
Check out the packages and reports at www.companysearchesmadesimple.com today!